Business

IIE DIGITAL DESK : Precious metal prices in India saw a notable uptick on Tuesday, 10 March 2026, with both gold and silver gaining value in domestic markets, including in Kolkata, largely influenced by ongoing global uncertainties such as geopolitical tensions in the Middle East between the United States, Iran and Israel. Safe‑haven demand and foreign exchange movements have continued to play a key role in shaping bullion rates across the country.

In Kolkata’s bullion market on Tuesday, the price of 24‑carat pure gold (per 10 grams) increased notably compared to the rates on the previous day. The rate for pure gold bars was quoted at around ₹1,59,450 per 10 grams, while retail pure gold bars were trading close to ₹1,60,250 per 10 grams after the price rise. The rally extended to hallmarked jewellery gold (22 carat), where the rate per 10 grams rose to approximately ₹1,52,300 in local markets. Meanwhile, silver (retail) recorded a sharp surge in value, with the rate per kilogram climbing by around ₹10,000–₹10,750 to reach over ₹2,63,450 in Kolkata.

The increases came after Monday’s temporary dip in bullion prices, which had offered some relief to investors following heightened volatility triggered by global events. However, the latest data shows a renewed upward momentum in precious metals as traders recalibrated positions in response to international developments. Nationally, silver prices have also been reported at around ₹2,90,000 per kilogram on Tuesday, reflecting gains from the previous session. Gold rates across major Indian cities, including Kolkata, Delhi, Mumbai and others, showed daily increases in both 24 carat and 22 carat categories as investors gravitated back toward safe‑haven assets. 

Analysts suggest that this price movement reflects the interplay between global bullion demand, fluctuations in the Indian rupee, and changes in the U.S. dollar. A weaker dollar can make gold more attractive to overseas buyers and domestic investors alike, often pushing prices higher in local currency terms. In some reports, gold prices in India saw gains of several hundred rupees per 10 grams while silver gained significantly per kilogram, illustrating the sensitivity of both metals to macroeconomic factors and market sentiment. 

It is important for consumers to note that the retail price quoted at jewellery shops can be higher than standard market rates. The figures reported reflect basic metal prices excluding GST (Goods and Services Tax) and making charges, which vary by retailer and jewellery design. GST of 3 percent is typically applicable to gold purchases, while jewellers may add additional labour or craftsmanship charges depending on the style and intricacy of the piece. As a result, the final price paid by buyers in physical stores may exceed the base rates shown in market listings.

Despite the volatility, many investors continue to watch bullion markets closely, considering precious metals as a hedge against inflation, currency risk and geopolitical upheaval. The recent uptick in gold and silver prices underscores how international developments can reverberate through domestic commodity markets, influencing investment decisions and retail demand. Traders recommend carefully monitoring price trends and consulting multiple sources before making purchase decisions, especially during periods of heightened global tension that tend to impact safe‑haven asset flows.

The Tuesday price movements in Kolkata’s gold and silver markets reflect larger national trends, where bullion prices have once again trended upward following recent dips, offering both opportunities and challenges for buyers, sellers and investors alike.

Gold (per 10 g)

• 24 K Pure Gold Bar: ₹1,59,450
• 24 K Retail Pure Gold Bar: ₹1,60,250
• Hallmarked 22 K Jewellery: ₹1,52,300

Silver (per kg)
• Retail Silver: ₹2,63,450